US President Donald Trump has postponed the implementation of planned tariffs on goods imported from the European Union until July 9, says a media report.
On May 24, the US leader warned of imposing a 50 percent tariff on all goods imported from EU starting on June 1.
In response to Trump’s threat, the EU’s Trade Commissioner said the 27-member bloc remained committed to negotiating a trade agreement with the United States based on “mutual respect,” rather than “threats.”
Trump backed away on Sunday from his threat and delayed the planned tariff hike until July 9, for talks between Washington and the 27-nation bloc to produce a deal, Reuters reported.
Trump, who has repeatedly expressed disdain for the EU and its treatment of the United States on trade, relented after European Commission President Ursula von der Leyen told him on Sunday that the EU needed more time to come to an agreement.
She asked him during a call to delay the tariffs until July, the deadline he had originally set when he announced new tariffs in April. Trump told reporters he had granted the request.
“She said we will rapidly get together and see if we can work something out,” Trump told reporters. “We had a very nice call and I agreed to move it [the deadline].”
Trump made the remarks before returning to Washington following a weekend in New Jersey.
In the past year, the US exported goods worth $370.2 billion to the European Union, while it imported products valued at $605.8 billion from the bloc.
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